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An initiative to automate accounts payable (A/P) or accounts receivable (A/R) processes has tremendous potential. In an ineffective A/P function, each payment costs twice as much to process as the typical payment in an organization that follows best practices; best-in-class companies spend an average of around $4 on processing each payment, versus an average of $8 per payment in a subpar A/P function. Poor management of A/R exceptions can also be extremely expensive. A/R costs organizations an average of 2.7 percent of their total invoiced income.

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